Cairo – Mubasher: Qalaa Holdings’ board of directors has endorsed the details of an eight-year motivation and reward system for the company’s employees  starting from the date of getting the Financial Regulatory Authority’s (FRA) approval.

The board has agreed on the extraordinary general meeting’s (EGM) proposal to look into applying the system, the company said in a statement to the Egyptian Exchange (EGX) on Sunday.

The Egyptian investment company previously posted it turned profitable during the first half of 2018 with a consolidated profit of EGP 233.28 million, compared to EGP 3.67 billion in losses in the same period a year earlier.

Revenues grew to EGP 6.2 billion in the six-month period ended June, versus EGP 4.3 billion in H1-17.

On the other hand, standalone losses stood at EGP 2.3 million in H1-18, compared to EGP 102.43 million in the prior-year period.